Loan to build my grocery shop inventory

Margaret Wangari

Mombasa, Kenya

100% repaid

Entrepreneur

Name

Margaret Wangari

Member since

October 2014

On-time repayments

235 installments  •  53%

About Me

My name is Margaret Wangari, born in Kirinyaga county which is on the slopes of Mount Kenya. I was born into a farming family where my parents were and still are peasant farmers. I endured deprived upbringing but somehow managed to get education up to secondary level. These struggles early in life would later prove crucial in my life since I can handle many difficult situations.

I had a desire to continue with my education but I got married soon after finishing secondary education and that put to an end to my education journey. I directed my energy to bringing up my family and we were blessed with three children who came in quick succession. They are all grown up now and the first two are looking for jobs while the last born is still in school.

I am a strong woman who values hard work and honesty. Through hard work, I have managed to improve my life in spite of many hurdles that often come along the way.

My Business

I relocated to Mombasa soon after getting married because this is where my husband works. My husband and I decided to start a small grocery shop to supplement his income. Through hard work, the shop has grown into a relatively big ration store where I sell common house hold goods such as soaps, flour, green vegetables etc.

I run the shop in my backyard and this helps me a lot since I do not have to pay rent for this space. I have one assistant who helps me in day to day running of the shop. My children also spend some of their free time in the business.

I make an average net income of about $350 and this helps in paying my bills and other household expenses. In fact my family's life would be very difficult without this business.

Loan Proposal

My business requires a lot of capital to run. The demands and expectations of customers demands that I stock all sort of household items in my shop since they prefer to do all their shopping under one roof. For this reason, I am always looking for ways to raise capital so as to satisfy my customers.

I normally depend on my husbands and friends when the demand for increase stock exceeds my savings from my normal business income. This is an unreliable way of raising the capital since these people are also burdened by their own obligations. Failure to get credit on time means loss of business which is a very painful thing for any business person.

For this reason, I am requesting for this loan which I will spend as follows:

1. Buy a box of assorted balloons - @ 30 USD
2. Buy a dozen flashlights at a total cost of $40
3. Buy assorted goods with the remaining amout.

I hope you will get time to read my story and loan proposal and lend to me. Thank you.

Show original English  

About Me

My name is Margaret Wangari, born in Kirinyaga county. I endured deprived upbringing but somehow managed to get education up to secondary level. This struggles early in life would later prove crucial in my life since I can handle many difficult situations.

I
I am a strong woman who values hard work and honesty. Through hard work, I have managed to improve my life in spite of many hurdles that ofter come along the way.

My Business

I relocated to Mombasa soon after getting married because this is where my husband works. My husband and I decided to start a small grocery shop to supplement his income. Through hard work, the shop has grown into a relatively big ration store where I sell common house hold goods such as soaps, flour, green vegetables etc.

I run the shop at my backyard and this helps me a lot since I do not have to pay rent for this space. I have one assistant who helps me in day to day running of the shop. My children also spend some of their free time in the business.

I make an average net income of about $350 and this helps in paying my bills and other household expenses. In fact my family's life would be very difficult without this business.

Loan Proposal

My business requires a lot of capital to run. The demands and expectations of customers demands that I stock all sort of household items in my shop since they prefer to do all their shopping under one roof. For this reason, I am always looking for ways to raise capital so as to satisfy my customers.

I normally depend on my husbands and friends when the demand for increase stock exceeds my savings from my normal business income. This is an unreliable way of raising the capital since these people are also burdened by their own obligations. Failure to get credit on time means loss of business which is a very painful thing for any business person.

For this reason, I am requesting for this loan which I will spend as follows:

1. Buy a box of assorted balloons - @ 30 USD
2. Buy a dozen flashlights at a total cost of $40
3. Buy assorted goods with the remaining amout.

I hope you will get time to read my story and my loan proposal and lend me. Thank you.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$99.69

Date disbursed

Oct 31, 2014

Repayment status

On Time

Projected term

2 months

Cost to entrepreneur

Lender interest: $99.69 at 6.06% annual rate over 2 months = $1.20

Service fee: $0.72

Lenders

I

icetwice

Melbourne, Australia

rfcno

New Orleans, United States

W

wally

Torino, Italy

Kamil

Lidzbark Warminski, Poland

Mikers

Netherlands

K

kennychit

United States

S

Stephan

Netherlands

Ask Margaret a question about this loan project, share news and photos of your own, or send a simple note of thanks or inspiration.

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  • Margaret Wangari    May 29, 2017

    I request that I reduce the weekly repayment to KES 200 until when the business improves. Thanks.

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  • Margaret Wangari    Mar 13, 2017

    I wish to reduce my weekly payments by half since business is low. I will resume to a higher amount as soon as the business picks up.

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  • Margaret Wangari    Dec 21, 2016

    Thank you so much for funding the loan. I will now go ahead and implement my project.

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  • Margaret Wangari    Dec 20, 2016

    Thank you so much lenders. I have managed to grow my business from a small store to a now formidable big store. With your support, the sky is the limit.

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  • Margaret Wangari    Sep 10, 2016

    My business is not doing very well and I request that I start paying KES 500 until business picks up again. Thank you so much for your understanding and long live Zidisha family.

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  • Esther Wanjiru    Mar 25, 2016

    Dear lenders, I spoke to Margaret yesterday and she promised to start repaying her loan this week or early next week.

    VM

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  • Margaret Wangari    Jan 18, 2016

    Dear lenders, It is the beginning of the year and business is a bit low. I am hoping the business will pick up in a month's time. For this reason, I would like to reduce my weekly payment by half until the situation improves.

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  • Margaret Wangari    Nov 3, 2015

    Wow, thank you so much lenders for funding my loan. This loan will enable me grow my candy business.

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  • Margaret Wangari    Oct 20, 2015

    Zidisha loans have continued to be a blessing to my business. With the last loan, I managed to get a freezer and a stock of candies and this has been doing very well. It is now a department on its own in my retail business and it has increased my revenue at approximately 20%. Thank you so much lenders for being the main part of this success story.

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    • Roy    Oct 20, 2015

      Thank you for this wonderful piece of news. I am so pleased for you.
      Good luck.

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  • Margaret Wangari    Apr 4, 2015

    Dear lenders, I received KES 43,700.00 ($483.00) late last night.
    I will use this money to buy the freezer and an inventory of chocolates and ice-cream. This will fulfill my long time dream.

    Thank you lenders for doing it again and I will show my gratitude by repaying on time.

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  • Margaret Wangari    Mar 27, 2015

    Thank you my first two lenders Sam D and thebonseung. I plead to other lenders to make their contributions towards this loan to enable me chart this new territory.

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  • Margaret Wangari    Mar 23, 2015

    Dear lenders, I must say that I started the new year with a bang! Through the loan that you gave in in Mid January, I was able to increase my inventory and this has increased my sales by about 20%. In you people, I can say the future has never been brighter. Thank you and I ask for your support as I come for my third loan.

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  • Margaret Wangari    Mar 7, 2015

    Hallo lenders, This is to let you know that my business is booming due to your support you have continued to give me. I have decided to reschedule my loan upwards to KES 3000 since I can comfortably pay this amount.

    I am also preparing to take another loan so as to expand my business even further.

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  • Simon Maitai    Jan 16, 2015

    all the best in your business the future is great with zidisha

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  • Margaret Wangari    Jan 16, 2015

    The first loan came around Christmas season and it enabled me to buy items that move very fast during the period. I made good profit from the business and it has helped start the new year on the right footing. Thank you lenders and keep up the good work you are doing.

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  • icetwice    Jan 16, 2015

    Thank you Margaret for your quick loan repayment!!

    All the best to you, your family and your business!

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    • Margaret Wangari    Mar 27, 2015

      Hi icetwice, thank you for acknowledging my effort. I have made another application and I would really appreciate if you contribute towards it. Best wishes in whatever it is that you do.

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  • Margaret Wangari    Oct 30, 2014

    I accepted the loan bids on 21st this month and I was promised that the cash will be disbursed within 7 days but I have not heard anything since then. Please look into this.

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  • Margaret Wangari    Oct 18, 2014

    Thank you tmarkus and icetwice for your contributions. I am very excited about this progress.

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